Travelbag take over completed
The Australian Stella Group has taken over the UK-based long-haul travel retailer Travelbag for AUD 17 million. (See earlier posting)
The acquisition will further strengthen Stella's distribution capabilities in the UK, where it now has more than 90 retail outlets consisting of 83 Harvey World Travel shops and eight Travelbag outlets.
Stella has also purchased Travel 2 Travel 4 in the UK from Travelport, with extensive similarities between the businesses expected to aid integration.
The businesses will also be integrated with the Harvey World Travel network under Stella Travel Services umbrella.
Travelbag Managing Director Rick Weber and the senior management team will remain in the business.
Stella Group's existing Australian and New Zealand portfolio counts some 15,000 rooms under the Mantra, Peppers, BreakFree and Saville brands.
The acquisition will further strengthen Stella's distribution capabilities in the UK, where it now has more than 90 retail outlets consisting of 83 Harvey World Travel shops and eight Travelbag outlets.
Stella has also purchased Travel 2 Travel 4 in the UK from Travelport, with extensive similarities between the businesses expected to aid integration.
The businesses will also be integrated with the Harvey World Travel network under Stella Travel Services umbrella.
Travelbag Managing Director Rick Weber and the senior management team will remain in the business.
Stella Group's existing Australian and New Zealand portfolio counts some 15,000 rooms under the Mantra, Peppers, BreakFree and Saville brands.
posted by Editor's desk at
23:07
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